Dubai's $800m offer rejected

 

Liverpool's co-owners Tom Hicks and George Gillett are understood to have rejected DIC's bid, which would have given the Americans a profit of £25m each on their stakes.

 

Hicks "turned down their offer immediately upon receipt", a person involved with the negotiations said, adding that the Texan billionaire is willing to allow Gillett to sell 49% of his stake as long as Hicks gets the other 1%.

 

DIC had given the Americans 24 hours to accept its offer, an executive working on the bid said.  A Dubai spokeswoman earlier denied reports that the duo had been given such a deadline.

DIC, the investment arm of the UAE's ruling royal Maktoum family, was originally in competition with Gillett and Hicks to buy the club from former owner David Moores before withdrawing in favour of the American duo in January last year.